Iran war squeezes Iraq’s economy as oil revenues fall and prices rise

Iraq is a state heavily dependent on imports, from food and medicines to appliances, as well as raw materials for its industries. Its one big export is oil, but it sits on such a huge supply of the natural resource that revenues from the sale of oil abroad offset the imports and ensured that the country had a positive trade surplus.

Things have changed, however, since the start of the Read Entire Article